LG Uplus, Woori Bank team up to spot voice phishing calls in real time

LG Uplus, a leading mobile carrier, has joined forces with Woori Bank, a prominent lender, to identify and flag real-time voice phishing calls. This collaboration aims to prevent fraudulent wire transfers while victims are still engaged in conversations with scammers. Voice phishing, a type of phone scam, involves callers impersonating authorities like prosecutors, police, or bank representatives to deceive victims into transferring money.

The mobile carrier's AI-powered call app, ixi-O, detects suspicious calls and transmits risk information to Woori Bank in real-time. Upon receiving this data, Woori Bank intensifies monitoring of the customer using its advanced fraud detection system, which scrutinizes transactions for irregular patterns. If any suspicious activity is detected, the bank initiates protective measures as per its standard procedures, such as requesting additional identity verification or notifying the customer.

LG Uplus highlights that banks have traditionally concentrated on monitoring transaction data, like account transfers, making it challenging to detect early warning signs. However, this new partnership allows for the identification of crucial indicators, such as whether a customer communicated with a suspected phishing caller or experienced a phone infection, enabling timely intervention to safeguard customers from falling victim to voice phishing scams.